Wexford Capital LP lessened its stake in PBF Energy Inc (NYSE:PBF) by 83.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 127,775 shares of the oil and gas company’s stock after selling 646,257 shares during the quarter. Wexford Capital LP owned approximately 0.11% of PBF Energy worth $6,377,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. bought a new stake in PBF Energy in the second quarter worth $132,000. Point72 Hong Kong Ltd bought a new position in PBF Energy during the second quarter valued at $145,000. Harvest Fund Management Co. Ltd increased its position in PBF Energy by 172.7% during the third quarter. Harvest Fund Management Co. Ltd now owns 3,908 shares of the oil and gas company’s stock valued at $195,000 after acquiring an additional 2,475 shares during the last quarter. Sun Life Financial INC bought a new position in PBF Energy during the second quarter valued at $200,000. Finally, First Foundation Advisors bought a new position in PBF Energy during the third quarter valued at $207,000. 93.18% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE PBF traded up $0.51 during mid-day trading on Friday, reaching $35.74. The company had a trading volume of 10,271 shares, compared to its average volume of 1,323,149. The company has a current ratio of 1.79, a quick ratio of 0.83 and a debt-to-equity ratio of 0.60. The stock has a market cap of $4.22 billion, a PE ratio of 31.32, a PEG ratio of 0.78 and a beta of 1.46. PBF Energy Inc has a 52 week low of $28.25 and a 52 week high of $53.91.
PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Wednesday, October 31st. The oil and gas company reported $1.13 EPS for the quarter, topping the Zacks’ consensus estimate of $1.03 by $0.10. The firm had revenue of $7.65 billion for the quarter, compared to analysts’ expectations of $7.21 billion. PBF Energy had a net margin of 2.64% and a return on equity of 8.17%. The business’s revenue for the quarter was up 39.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.44 earnings per share. As a group, sell-side analysts forecast that PBF Energy Inc will post 2.91 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Thursday, November 15th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend was Wednesday, November 14th. PBF Energy’s payout ratio is presently 105.26%.
PBF has been the topic of a number of analyst reports. Credit Suisse Group boosted their price objective on shares of PBF Energy from $46.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday, October 5th. Wells Fargo & Co cut their price objective on shares of PBF Energy from $63.00 to $59.00 and set an “outperform” rating on the stock in a research report on Friday, August 10th. Goldman Sachs Group upgraded shares of PBF Energy from a “sell” rating to a “neutral” rating in a research report on Friday, September 7th. Morgan Stanley set a $54.00 price objective on shares of PBF Energy and gave the company a “sell” rating in a research report on Friday, October 12th. Finally, Citigroup boosted their price objective on shares of PBF Energy from $50.00 to $55.00 and gave the company a “hold” rating in a research report on Friday, September 7th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. PBF Energy presently has an average rating of “Hold” and an average target price of $45.25.
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PBF Energy Company Profile
PBF Energy Inc, together with its subsidiaries, engages in the refining and supply of petroleum products. The company operates through two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products.
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